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Quote from: Kushan22 on June 30, 2023, 04:26:07 PM

After deep research and discussions on Bitcoin, I strongly believe its inventors have contributed greatly to humanity. If Bitcoin fulfills its purpose, it can significantly reduce poverty through its decentralized peer-to-peer transactions, rendering fiat conversion unnecessary.

Bitcoin, in my opinion, will not reduce poverty since not everyone is determined to invest in Bitcoin, particularly if your salary is enough to cover your daily expenses. However, there are some people with a strong mindset who are prepared to take risks and find a way to invest in Bitcoin because they feel they will earn tremendously in the future. Unfortunately, those who can afford to invest are primarily those who are already wealthy, while the poor become poorer.

I don't agree because in Bitcoin a low salary person can also invest money and it isn't only for the ones who are wealthy. Although, you're right that it can't reduce poverty but it can control the increase of poverty if the poor people and the ones with low income invest in it. We are still not aware of full potential of Bitcoin because we think that its price is already very high and it can't go any further, but we have always been wrong in this regard because Bitcoin has always been breaking its all time high after each halving event.

After doing some research on YouTube I found that a guy in 2013 said in his video that everyone should invest at least $1 dollar in Bitcoin if they want to be financially stable in future. Many people made fun of the guy in those days because they were the skeptical ones who weren't aware of the true potential of Bitcoin. The guy's words became a reality when Bitcoin reached it's all time high in 2021, and many people who followed the advice of that YouTuber might have made a good fortune if they had invested 100-1000$ in Bitcoin at that time.

Your viewpoint presents an interesting perspective on the potential benefits of investing in Bitcoin. However, as a gentle suggestion, one might consider re-evaluating this viewpoint with a bit more... nuance.

Yes, Bitcoin doesnt discriminate between rich or poor investors. However, it's important to remember that this 'financial democratization' does't necessarily lead to wealth distribution. As an investment, Bitcoin is notably volatile and risky, meaning that those with fewer resources to spare are potentially more susceptible to losses.

True, Bitcoin's growth has been nothing short of spectacular. Nevertheless, the "sky's the limit" mentality might be slightly misguided. Just as a rocket's upward trajectory eventually plateaus, market dynamics also dictate that indefinite exponential growth is... unlikely, to put it mildly.